Overall, this position is responsible for expense budget and reporting functions within the organization. This role involves managing the preparing, analysis and reporting of expense budgets, as well as ensuring compliance with financial policies and procedures.
Roles and Responsibilities:
Expense Budget Preparation:
· Collaborates with various departments to gather budget inputs and provide financial guidance.
· Ensures expense budget aligns with the organization’s goals and objectives
Expense Monitoring and Analysis
· Responsible for monitoring actual expenses against budget, identifying variances and analyzing reasons behind them.
· Ensures expenditures align within budget constraints and are within approved limits
· Provides insights and recommendations to senior management
· Prepare for analytical review for financial closing
· Provide GOE insights to all departments on expense control oversight.
· Prepare financial analysis for ad-hoc presentation decks
Financial Reporting
· Coordinate Expense Study exercise for Expense allocation and expense deferability
· Facilitate quarterly expense study exercise and allocation of expenses between lines of businesses
· Prepare expense breakdowns for annual MAS reports
· Business Process Owner of Cost Centre Accounting under SA
Financial and Non-Financial Measures:
· Ensure timely and quality submission of budget submission deliverables and management reports to senior management.
Communication Requirements
· Internal (90%) - For budget preparation, communication with all HODs and EXCO required for understanding budget basis in order to prepare budget submission. Extensive internal communications required from all departments, in order to explain financial results. Business-minded with a management focus and able to build trusted strategic partnership relationships with heads of business functions, senior management and Group Office to provide support from a business perspective. Strategic-minded and able to consider the wider picture in complex situations by linking disparate information and taking an abstract or long-term perspective. Ability to build rapport in engaging and yet challenge manner to partner with and offer support to heads of business functions to manage their costs
· External (10%) – Discussion with auditors on financial performance
Requirements:
· Education – Bachelor of Accountancy
· Experience – 5 years’ experience in Insurance industry
· Certifications/licenses – Certified Public Accountant
· Special skills – Understanding of IFRS, SFRS and MAS Regulations, good communication skills, and report writing skills.
